This paper examines the occurrence and outcome of auditor litigation related to financial statement misstatements and the effect of auditor misstatement-based litigation on subsequent auditor behavior. The study is motivated by recent calls to limit auditor legal liability and the need to examine the ability of litigation to deter non-Generally Accepted Accounting Principles (GAAP) financial reporting. I find that misstatement severity is the primary driver of auditor litigation. Specifically, I find that auditor misstatement-based litigation is more likely when the misstatement is associated with fraud, a regulatory investigation, a larger stock price decline, and/or a greater number of accounting application [i.e., Financial Accounting Standards Board (FASB)/GAAP) failures. In addition, I find that auditor misstatement-based litigation is more likely to occur when the misstatement is associated with engagement fees that consist of a greater magnitude or a greater proportion of non-audit service fees. Further, I find that misstatement severity and the size of the plaintiffs? claims are the primary drivers of auditor settlements resulting from misstatement-based litigation. Specifically, I find that an auditor settlement resulting from misstatement-based litigation is more likely to occur when the misstatement is associated with fraud, a greater amount of alleged income or equity inflation over the class action time period, and/or a larger alleged percentage drop in share price over the class action time period. With respect to subsequent auditor behavior, I find evidence that auditor litigation results in more conservative subsequent auditor behavior across a litigated auditor?s office-wide client portfolio (that excludes the litigated client). Specifically, in the year following auditor litigation, I find evidence that litigation results in increased auditor constraint of client-reported positive and signed discretionary accruals, as well as longer audit report lags.

This thesis deals with accounting-based equity valuation models. The first study contrasts the performance of three commonly used valuation models, using a large sample of analysts’ forecasts of the elements valued by these models (free cash flow, dividends and abnormal earnings/residual income). The second study investigates empirically whether discount rate estimation is a first-order effect in equity valuation. The third and fourth studies focus on developing routines for implementation of multi-period valuation models, including the critical issue of terminal value estimation. The thesis shows how model choice is a critical issue, given standard implementation of the valuation models (Study 1); how standard models for discount rate estimation are of little or no use practically (Study 2); how one can implement a multi-period valuation framework such that everything is internally consistent, and how this leads to several desirable features, such as model equivalency (Studies 3 and 4). The thesis is valuable to readers interested in accounting-based equity valuation who wish to understand, to distinguish among, and to appropriately implement valuation techniques. / Diss. Stockholm : Handelshögsk.

We structure a literature review which we provide with broader definitions of the majorconcepts: value creation, cost efficiency (leadership), competitive strategies, financialperformance and statement analysis. The literature review focuses mainly on Hong Kongcontext and literatures supporting the similar business strategies among similar size ofcompanies from various industries.The study takes forms as a quantitative study with a deductive approach. A set offinancial performance data will be collected and examined, to show how companyperformance is correlated to its strategies and what an outcome is. We aim at providinganother perspective of investment analysis approach to the potential investors, so theycould embrace the whole picture of available information.We develop two groups of hypothesis; the first group is company’s strategy measures thatshow no effect on financial performance, the second group is company’s strategymeasures that show some effect on financial performance.The result indicates while normally staff cost and cost of sale are recognized as costleadership measure under product industry, it implies positive contribution to valuecreation financial performance in service industry, instead of having influence onprofitability. Also, the wealth generated from previous sale revenue margin will havepositive impact on company’s competiveness in the hotel industry.Keywords: value creation cost leadership, competitive strategies, financial performanceand statement analysis

Throughout history women have been subject to oppression by patriarchal society. However, there have always been those who have tried to rise against it. This study will shed light upon one example: a female artist who personally defies the patriarchal norms at the same time as her music encourages others to do the same. The musician in question is Christina Aguilera, and the album studied is Stripped. What this study shows is that Stripped can be read as a feminist statement. The lyrics deal with two main themes: patriarchal society’s objectification and oppression of women, and the struggles of love and relationships. What these two themes have in common is that they both encourage women to stand their ground and believe in themselves. However, the lyrics on the album also suggest that Aguilera is aware of the fact that her message will not suit everyone. She knows that she works within an industry whose goal is to make money out of its artists, and therefore she has to keep repeating like a mantra to herself and to others that she, and her music, is not just a product of this industry. The message her music brings actually matters. To come to this conclusion I have examined Aguilera’s lyrics in terms of what messages they bring and who their narratees might be, all in accordance with feminist narratology. Secondary sources from the fields of popular music studies, media studies and gender studies as well as interviews with and about Aguilera and biographies have been consulted.

Abstract In Sweden all persons under the age of 18 are considered children. The age when it is possible to be held responsible for a criminal act, and therefor convicted in court, is 15. Society’s and, perhaps first and foremost, the authority’s attitude towards juvenile crime is that they should not be equal adults in the process within criminal law. Because children are considered essential for the society of tomorrow, it is important to pay extra attention to crimes committed by juveniles. The social services authorities are considered to have the best resources and competence to handle this group of juveniles. In the criminal law process the prosecutor requests a statement regarding the young person who is reasonably suspected of a criminal act. The statement should contain information about if the young person is in need of certain interventions from social services in order to prevent unfavorable development. The conclusion that has been drawn when the statements has been reviewed is that a borderland has been created where social law and criminal law overlap. This overlapping is in a way a collision where social aspects and principles of criminal law have to meet. However, it is not always easy to make both sides satisfied. As a way to meet the needs of both sides the borderland becomes a compromise consisting of the process regarding the juveniles. The purpose of this essay is to describe and understand the compromise that has been made where statements and young juveniles are existing. The aim of this essay is to study 23 statements from social services that prosecutor request and the 23 court records attached to them. All statements and court records are regarding persons between 15 – 17 years old. The study is limited to the period between 2010-01-01 to 2010-12-31. This essay has been from a qualitative point of view where the discourse analysis as an text analytical method has been used to understand the collected statements and court records. Central results is that the statements reviewed in this essay overall are satisfying in fulfilling the social law and criminal law aspects. However the results also point out that an uncertainty within the social services regarding the design of the statements also is to be found. Descriptions of social aspects about the young juvenile behind the statement seems to be important to emphasize.

This paper examines the occurrence and outcome of auditor litigation related to financial statement misstatements and the effect of auditor misstatement-based litigation on subsequent auditor behavior. The study is motivated by recent calls to limit auditor legal liability and the need to examine the ability of litigation to deter non-Generally Accepted Accounting Principles (GAAP) financial reporting. I find that misstatement severity is the primary driver of auditor litigation. Specifically, I find that auditor misstatement-based litigation is more likely when the misstatement is associated with fraud, a regulatory investigation, a larger stock price decline, and/or a greater number of accounting application [i.e., Financial Accounting Standards Board (FASB)/GAAP) failures. In addition, I find that auditor misstatement-based litigation is more likely to occur when the misstatement is associated with engagement fees that consist of a greater magnitude or a greater proportion of non-audit service fees. Further, I find that misstatement severity and the size of the plaintiffs? claims are the primary drivers of auditor settlements resulting from misstatement-based litigation. Specifically, I find that an auditor settlement resulting from misstatement-based litigation is more likely to occur when the misstatement is associated with fraud, a greater amount of alleged income or equity inflation over the class action time period, and/or a larger alleged percentage drop in share price over the class action time period. With respect to subsequent auditor behavior, I find evidence that auditor litigation results in more conservative subsequent auditor behavior across a litigated auditor?s office-wide client portfolio (that excludes the litigated client). Specifically, in the year following auditor litigation, I find evidence that litigation results in increased auditor constraint of client-reported positive and signed discretionary accruals, as well as longer audit report lags.

The nature of range ¡§ automobile ¡§ has high technology and traditional science both together. It expands living habit and areas for the human beings but also lead hazard and risky on environment and safety. What is the value of competition about the automobile? What are the cons and pros on traditional manufactures with United States, Japan and Germany? Any structure change from then until now? The subject essay is based upon the automobile research report, which was issued on 1990 by MIT, analysis of GM with The United States, Toyota with Japan and Volkswagen with the Germany 1991-2005 financial statements and volume production strategy to continue the analysis. The automobile manufactures were following the model of productions TPS after MIT research report was announced. The above companies were not being able to follow and copy the model very successfully. Because that past successful enterprise cultural was difficult to abandon and among different countries cultural background and basis were total different and individual. They could only practice the fur of Japanese Toyota. For example, GM was combined with Toyota to build up factory as issue; looks like GM have had good flow and function on inventory turn over percentage and cost of sales volume. After operation factors were getting worse even turn their inefficiency out to the fact. The traditional craftsman¡¦s art with Germany were become the sign of obstacle to the TPS.

Lots of researches and reports analyzed the success of Samsung Electronics (SEC) mostly focusing on Samsung Group. This paper attempts to look into the relationship between SEC and Samsung Group in terms of SEC¡¦s capital management, and intends to find out if Samsung Group brings advantages to SEC. The analysis in this paper is divided into two parts: ¡]1¡^ examining the source and the use of SEC¡¦s capital by comparing with AUO and PSC¡F¡]2¡^scrutinizing SEC and the Group's financial performances. Firstly, from cash flow's point of view, AUO and PSC depend on substantial financing to meet their capital gap. Differences in working capital also cause impact on cash flow from operating activities. Same results are found similarly in analyzing the SEC and the Group. Moreover, regarding the purpose the capital, SEC evidently shows higher weights in cash outflows from investment activities than in property, plant and equipment. The difference mainly lies in the cross-investments between SEC and Samsung Group. On the other hand, based on the computation of financial ratios, SEC benefits from Samsung Group's integrated supply chains in comparison with AUO and PSC, especially in terms of account receivables and inventories. However, the same advantages are not shown in account payables conversely. It is inferred that SEC supports Samsung Group through giving looser credits. To sum up, as far as cash flows are concerned, SEC is capable of operating with sufficient working capital because of diversification and cross-investment within the Group. Meanwhile, SEC exhibits superior financial ratios than its peer companies as Group's cooperation. Subsequently, it is concluded that SEC gains much stronger competitive advantages from Samsung Group.

The built environment has mostly evolved under the influence of cultural heritage and has been shaped in response to our needs and resources. However, rapid changes have occurred in this environment with the impacts of globalization and mass production. The impact of these changes threatens to obliterate the unique character of rural settlements, which unlike urban areas still possess cultural identity. The aim of this study was to investigate the sustainable transmission of rural building heritage to prosperity / the potential of its adaptation for new settlements / and the interpretation of designing new houses in the light of traditional ones / as an integral part of sustainable rural development. To this end, a case study was conducted in the village of G&uuml / zel&ouml / z in Kayseri, where the transition from historical to contemporary styles and techniques was readily observable. The principles for effectively implementing projects which relate to the preservation and transmission of rural heritage have been formulated in the European Rural Heritage Observation Guide (ERHOG), which was initiated by Committee of Senior Officials of the European Conference of Ministers Responsible for Regional Planning/Spatial Planning (CEMAT) and the Village Design Statement (VDS) Packs, which were initiated by the Community Councils in United Kingdom (UK). The new development in G&uuml / zel&ouml / z village, as carried out by the Ministry of Public Works and Settlement (PWS) together with additions and alterations to existing traditional houses, were studied to understand the changing needs of the villagers. A comparative analysis was made between the level of satisfaction for both the traditional houses and post-disaster houses (PDH). An evaluation according to the ERHOG and VDS criteria was conducted for both types of houses regarding the relation of buildings with their immediate vicinity / use of materials / functional requirements / and constructional concerns. The results showed the importance of the recognition and promotion of cultural heritage to create an appropriate built environment.

Continuous improvements in semiconductor fabrication density are enabling new classes of System-on-a-Chip (SoC) architectures that combine extensive processing logic/processing with high-density memory. Such architectures are generally called Processor-in-Memory or Intelligent Memory and can support high-performance computing by reducing the performance gap between the processor and the memory. This architecture combines various processors in a single system. These processors are characterized by their computational and memory-access capabilities in performance and energy consumption. Two main problems addressed here are how to improve the performance and reduce the energy consumption of applications running on Processor-in-Memory architectures. Accordingly, a novel strategy must be developed to identify the capabilities of the different processors and dispatch the most appropriate jobs to them to exploit them fully. Accordingly, this study proposes a novel automatic source-to-source parallelizing system, called SAGE, to exploit the advantages of Processor-in-Memory architectures. Unlike conventional iteration-based parallelizing systems, SAGE adopts statement-based analytical approaches. The strategy of the SAGE system, which decomposes the original program into blocks and produces a feasible execution schedule for the host and memory processors, is also investigated. Hence, several techniques including statement splitting, weight evaluation, performance scheduling and energy reduction scheduling are designed and integrated into the SAGE system to automatically transform Fortran source programs to improve the performance of the program or reduce energy consumed by the program executed on Processor-in-Memory architecture. This thesis provides detailed techniques and discusses the experimental results of real benchmarks which are transformed by SAGE system and targeted on the Processor-in-Memory architecture.